First Manhattan CO. LLC. Reduces Stock Holdings in McDonald’s Co. (NYSE:MCD)

First Manhattan CO. LLC. lessened its stake in McDonald’s Co. (NYSE:MCD) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 654,476 shares of the fast-food giant’s stock after selling 9,603 shares during the period. First Manhattan CO. LLC.’s holdings in McDonald’s were worth $190,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MCD. Atala Financial Inc bought a new position in McDonald’s during the fourth quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial acquired a new position in shares of McDonald’s during the fourth quarter worth approximately $29,000. Fairway Wealth LLC raised its holdings in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in McDonald’s in the fourth quarter valued at about $30,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total value of $962,432.00. Following the completion of the transaction, the chief marketing officer now owns 9,858 shares of the company’s stock, valued at $2,964,892.08. This trade represents a 24.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $305.00, for a total value of $286,395.00. Following the completion of the sale, the insider now directly owns 13,978 shares of the company’s stock, valued at $4,263,290. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock worth $8,676,247 over the last 90 days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the subject of a number of analyst reports. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday. Erste Group Bank upgraded McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup increased their price target on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Piper Sandler upped their price target on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, KeyCorp raised their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.91.

McDonald’s Stock Performance

Shares of MCD stock opened at $313.61 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The company has a market cap of $224.26 billion, a P/E ratio of 27.53, a PEG ratio of 3.10 and a beta of 0.57. The stock has a 50 day simple moving average of $309.93 and a two-hundred day simple moving average of $300.12.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.70 EPS. On average, research analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.